Thomson Reuters (NYSE:TRI) Upgraded at StockNews.com

StockNews.com upgraded shares of Thomson Reuters (NYSE:TRI) (TSE:TRI) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company assumed coverage on shares of Thomson Reuters in a research note on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price objective for the company. CIBC boosted their price objective on Thomson Reuters from $164.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Scotiabank raised their price target on Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada raised their target price on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $176.10.

Thomson Reuters Trading Down 2.8 %

Shares of TRI stock opened at $155.12 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $69.79 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 5.69 and a beta of 0.72. The company has a 50-day simple moving average of $164.14 and a two-hundred day simple moving average of $165.78. Thomson Reuters has a 52-week low of $142.80 and a 52-week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. Thomson Reuters’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. Research analysts anticipate that Thomson Reuters will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $0.54 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.39%. Thomson Reuters’s dividend payout ratio is currently 42.52%.

Hedge Funds Weigh In On Thomson Reuters

Large investors have recently modified their holdings of the stock. Aigen Investment Management LP raised its holdings in shares of Thomson Reuters by 87.4% in the 3rd quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock valued at $1,250,000 after purchasing an additional 3,417 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in Thomson Reuters during the 3rd quarter valued at about $4,506,000. Icon Wealth Advisors LLC increased its holdings in shares of Thomson Reuters by 547.4% in the third quarter. Icon Wealth Advisors LLC now owns 7,943 shares of the business services provider’s stock valued at $1,355,000 after purchasing an additional 6,716 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Thomson Reuters by 87.1% during the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after purchasing an additional 235,145 shares during the period. Finally, Qsemble Capital Management LP acquired a new position in Thomson Reuters in the 3rd quarter worth approximately $2,127,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.